Buying a home is a dream. Sometimes we fail to look at the reality. Buying a home in Vancouver is quite a task as history shows that the house prices have almost tripled over the past decade. The main reason for such a rise is the short supply and the ever increasing demand. The single family housing has pushed the buyers out of their limits and purchasing has become more and more difficult. The same goes for the condo market. But the only difference is that the condo market is slightly more affordable for the average person. Which only means that a decade ago, if you had bought a condominium home, you would have been better off – today it’s unrealistic if not impossible. However, real estate agents can provide you with proper guidance and can help you with locating the right kind of home for your family in Vancouver.
Prime locations in Vancouver are very desirable places for buying a home especially of you are buying for the first time. It’s everyone’s dream to live in the vicinity of the beach in Kitsilano or near your workplace in Yaletown or in the East Van community. Real estate in these locations come with a price tag. The budget considerations for East side homes and the West side homes are very different. You will need to study the prices before you buy. Understand all these factors and then look for the right home with the right kind of budget that suits you.
Check out all the neighborhoods. Some neighborhoods might not seem very convincing at the moment. They might even seem unattractive to you at first. But remember, times change and you need to look at future prospects and study those. A real estate agent will be better equipped to help you out with such details. For example, Main Street was a prime area for drugs etc. over a decade ago. Today, it is one of the most desirable locations to purchase homes in. The West side of the city is well established. But the downside of this is that first time buyers find the price tags on the higher side.
Rather than living on rent, buying real estate is always considered as a better option. It is a better financial decision. To begin with, you may feel your bank account drain off, but it will be worthwhile after a few years. On the other hand, if you keep renting, you are any ways paying a recurring amount per month. With buying you will build an asset that will be yours after a few years.
Only consider the time and the market statistics when you decide to purchase. The local market prices for properties are continuously rising and falling. The good news is that – you need not do all the homework yourself. There are real estate experts who already have the knowledge of all that’s going around in the market and can give you good advice for buying and selling properties in Vancouver.
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